Fortunafi, a FinTech company specializing in RWA and stablecoin products, has announced the successful completion of its $9.5m funding raise.
The funding round saw participation from key investors, including Shima Capital, Manifold, Cobie, Evanss6, Scott Lewis, Ari Litan, and Austin Green, among others.
Fortunafi is known for its innovative approach to the cryptoasset industry, focusing on the tokenization of assets and the development of stablecoin protocols. The company recently launched its Tokenized Asset Protocol (TAP), the first global cross-chain tokenization protocol, in December 2023. TAP allows both U.S. and non-U.S. individuals and institutions to gain exposure to tokenized assets on the Arbitrum, Blast, and Canto blockchains, with plans to support additional blockchains in the near future.
The new funding will be used to expand Fortunafi’s current RWA product offerings, improve the utility of tokenized assets, and grow its distribution network. Additionally, the company plans to launch a new stablecoin protocol, aiming to capitalize on the significant opportunities within the stablecoin sector.
Nick Garcia, founder and CEO of Fortunafi, expressed his enthusiasm about the funding round’s success. “We’re beyond excited to close out this strategic funding round and pursue new and existing opportunities. Here at Fortunafi, we believe the biggest opportunities that exist today in the broader cryptoasset industry fall within the RWA and stablecoin sectors. We have a distinct vision of what both sectors will look like in the years ahead and we’re ready to execute on our mission,” Garcia said.
The announcement follows Fortunafi’s recent milestones, including the December 2023 launch of its TAP, enhancing the company’s presence in the tokenized asset market.
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